DA Davidson Has Bearish Estimate for AAON FY2024 Earnings

AAON, Inc. (NASDAQ:AAON) – Analysts at DA Davidson decreased their FY2024 earnings per share estimates for shares of AAON in a research report issued on Monday, November 11th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $2.23 for the year, down from their previous forecast of $2.24. DA Davidson has a “Buy” rating and a $150.00 price target on the stock. The consensus estimate for AAON’s current full-year earnings is $2.26 per share.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share.

Several other research firms have also recently issued reports on AAON. Sidoti cut shares of AAON from a “buy” rating to a “neutral” rating and increased their price objective for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.00.

AAON Stock Down 2.3 %

AAON stock opened at $134.63 on Wednesday. AAON has a 52 week low of $59.71 and a 52 week high of $144.07. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 59.31 and a beta of 0.79. The company’s 50-day moving average price is $108.85 and its two-hundred day moving average price is $92.56. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. AAON’s dividend payout ratio is presently 14.10%.

Insider Buying and Selling

In other news, VP Casey Kidwell sold 4,796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the sale, the vice president now directly owns 4,953 shares of the company’s stock, valued at $675,490.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

Hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in AAON by 99.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock valued at $1,520,000 after purchasing an additional 8,613 shares during the period. GSA Capital Partners LLP purchased a new stake in AAON in the 1st quarter worth about $429,000. SG Americas Securities LLC acquired a new stake in AAON during the 1st quarter worth about $212,000. Sei Investments Co. boosted its position in AAON by 2.1% during the 1st quarter. Sei Investments Co. now owns 146,519 shares of the construction company’s stock worth $12,908,000 after acquiring an additional 2,985 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in AAON by 3.1% during the 1st quarter. Russell Investments Group Ltd. now owns 35,819 shares of the construction company’s stock valued at $3,156,000 after acquiring an additional 1,090 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.